Guideline Value for VASANTHAM TOWN

Vasantham Town guideline value

The current guideline value of Vasantham Town, located in Ikkadu village under the Tiruvallur Joint 1 SRO, is Rs 500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Vasantham Town has changed

Looking at the historical revisions, the guideline value for Vasantham Town has seen several changes. The 2012 revision set the value at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in the 2017 revision. This was followed by a significant increase to Rs 500 per sq.ft in the 2023 revision, which remained unchanged in the 2024 revision, reflecting a 0% change from 2023 to 2024. The overall change from 2012 to 2024 shows no net increase.

Additionally, the 2017 revision saw a 49% increase from the 2012 figure, while the 2012 to 2017 period experienced a decline of 33%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Ikkadu

In Ikkadu, there are 51 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,400 per sq.ft, with a median value of Rs 400 per sq.ft. Vasantham Town's 2024 guideline value of Rs 500 per sq.ft is above this median.

• Vanickar Street: Rs 500 per sq.ft (2024)
• Venkat Ramani Nagar: Rs 400 per sq.ft (2024)
• Vetri Enclave Phase III: Rs 500 per sq.ft (2024)
• Vijayalakshmi Nagar: Rs 500 per sq.ft (2024)
• V.K.N. Nagar 1st Street: Rs 400 per sq.ft (2024)
• V.K.N. Nagar 2nd street: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Vasantham Town

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, resulting in a total of Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Vasantham Town?

The Sub Registrar Office that covers Vasantham Town is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ikkadu

The guideline value plays a crucial role during the registration process of property transactions in Ikkadu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and the appropriate fees are collected by the government.

Frequently asked questions

What is the current guideline value of Vasantham Town?

The current guideline value of Vasantham Town is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023 and 2024. The overall change from 2012 to 2024 shows no net increase.

What is the land classification for Vasantham Town?

The land classification for Vasantham Town is Residential Class II Type - I.

What are the other streets in Ikkadu with their guideline values?

Other streets in Ikkadu include Vanickar Street at Rs 500 per sq.ft, Venkat Ramani Nagar at Rs 400 per sq.ft, Vetri Enclave Phase III at Rs 500 per sq.ft, Vijayalakshmi Nagar at Rs 500 per sq.ft, V.K.N. Nagar 1st Street at Rs 400 per sq.ft, and V.K.N. Nagar 2nd street at Rs 400 per sq.ft.

Where is the Sub Registrar Office for Vasantham Town located?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.N. Road, Taluk Office Compound, Thiruvallur-602001.